Spruce Biosciences, Inc. (NASDAQ:SPRB) Receives Consensus Recommendation of “Hold” from Analysts

Spruce Biosciences, Inc. (NASDAQ:SPRB) has earned a consensus recommendation of “Hold” from the eight brokerages that are covering the company, MarketBeat.com reports. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $5.00.

A number of equities research analysts have recently commented on SPRB shares. Royal Bank of Canada reissued a “sector perform” rating and issued a $2.00 target price on shares of Spruce Biosciences in a research note on Tuesday, August 13th. HC Wainwright reissued a “neutral” rating on shares of Spruce Biosciences in a research note on Monday, August 19th.

Spruce Biosciences Price Performance

Shares of SPRB stock opened at $0.44 on Friday. The stock has a market cap of $18.35 million, a price-to-earnings ratio of -0.43 and a beta of 2.40. The business’s fifty day moving average is $0.45 and its 200 day moving average is $0.59. Spruce Biosciences has a twelve month low of $0.41 and a twelve month high of $5.95. The company has a quick ratio of 5.17, a current ratio of 5.17 and a debt-to-equity ratio of 0.02.

Spruce Biosciences (NASDAQ:SPRB) last issued its quarterly earnings results on Monday, August 12th. The company reported ($0.22) earnings per share for the quarter, topping the consensus estimate of ($0.32) by $0.10. Spruce Biosciences had a negative return on equity of 59.94% and a negative net margin of 450.38%. The company had revenue of $1.61 million for the quarter, compared to analysts’ expectations of $1.55 million. Research analysts expect that Spruce Biosciences will post -1.12 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Acadian Asset Management LLC bought a new position in shares of Spruce Biosciences during the first quarter valued at $289,000. Almitas Capital LLC bought a new position in shares of Spruce Biosciences during the second quarter valued at $205,000. Renaissance Technologies LLC lifted its holdings in shares of Spruce Biosciences by 35.1% during the second quarter. Renaissance Technologies LLC now owns 366,100 shares of the company’s stock valued at $190,000 after purchasing an additional 95,100 shares in the last quarter. Finally, AWM Investment Company Inc. bought a new position in shares of Spruce Biosciences during the first quarter valued at $157,000. 91.71% of the stock is owned by institutional investors.

Spruce Biosciences Company Profile

Spruce Biosciences, Inc, a biopharmaceutical company, focuses on developing and commercializing novel therapies for rare endocrine disorders. The company engages in developing tildacerfont, a non-steroidal therapy to enhance disease control and reduce steroid burden for patients suffering from congenital adrenal hyperplasia (CAH), which is in Phase 2b clinical trial; and to evaluate glucocorticoid reduction in adult patients with classic CAH that is Phase 2b clinical trial.